It's not uncommon for assets to disappear in an insolvency. But the vanishing of a few hundred silver coins—stamped with images of a cartoon sponge that lives in a pineapple under the sea—could bring the feds to oversee part of Peregrine Financial's bankruptcy.

The Iowa-based commodities futures broker sought bankruptcy protection in July. On Monday, its former CEO, Russ Wasendorf Sr., is expected to plead guilty to charges related to his alleged embezzlement of more than $200 million of customer funds.

Collectible? Coins stamped with a television cartoon character used for marketing by bankrupt Peregrine Financial are gone.
William Waitzman for Barron's

The $20,000 of coins bearing the likeness of television's SpongeBob SquarePants would hardly make those customers whole. The coins' value could rise if they are found and auctioned. A stash of SpongeBob coins worth about $350,000 already has been recovered. Also missing: 39 ounces of gold, according to a recent filing by Peregrine's bankruptcy trustee, Ira Bodenstein, who wasn't available for comment.

If the trustee suspects that the coins and gold were stolen, he could issue subpoenas to anyone in the firm. Bodenstein could also refer the case to the Justice Department, which could start its own probe. It could refer bankruptcy fraud to the U.S. Attorney's office.

The SpongeBob coins were dreamed up by Peter Thomas and Jim O'Connell as a marketing tool for Peregrine's Metals Division, said Scott Slutsky, the firm's former managing director of global services. "They were very excited" about the idea, but it took a year to get approval from Nickelodeon, the cable-television network that airs the SpongeBob cartoon. Nickelodeon declined to say whether the coins had serial numbers; Thomas and O'Connell couldn't be reached.

-- Nizar Manek

Next Week: Preview

Monday 17

U.S. market activity could be lighter than usual as the Jewish New Year is celebrated. Markets in Israel are closed today and tomorrow.

Keep an eye on the Empire State Manufacturing Index, says Russell Price, senior economist at Ameriprise Financial. He sees the September reading continuing to contract, though not at the same pace as in August.

New York Fed President William Dudley speaks about regional and national economic conditions. In the evening, hawkish Richmond Fed President Jeffrey Lacker speaks about Maximum Employment and Monetary Policy.

Several IPOs are on the roster: National Bank Holdings is expected to price 7.15 million shares at $20-$22 each; Spirit Realty Capital prices 27.06 million shares for an expected $16-$18; Susser Petroleum prices 9.5 million shares at an estimated $19-$21.